For more information on this property, contact Nancy Sanborn at 310-777-2858 or [email protected]

1748 N VERDUGO Road
Glendale, California CA 91208-2742
Price: $9,000,000
Listing ID 319000344
Status Active Under Contract
SqFt 25,176
Acres 0.840
Year Built 1949

Property Description:

Amazing opportunity to own a gem in North Glendale above Glendale Community College. This building was constructed in 1958 and consists of two buildings, i.e. a 17 unit and a 12 unit, on the same lot. There are (12) 2+1, (16) 1+1 and (1) 2+1.5 Townhouse on a 36,600 SQFT lot in a 25,000 Sqft improvement. Each building consists of various fourplexes connected to one another on the roof line, and there are 29 detached garages, no'' soft story. Majority of the units have been remodeled with hardwood flooring, ceramic wall and floor tiles in bathroom and kitchen, wall type heating and air conditioning. Recently, the Electrical service to the building was upgraded with a 1200 amp service facilitating the improving units with central A/C and charges for Electric cars. The building is located right across from blue ribbon Verdugo Woodlands Elementary school highly sought by Glendale parents. It is also walking distance to GCC facilitating possibility of student housing arrangements. The property has a historically high occupancy rate and a new owner can take over and achieve an above market return for the city of Glendale by enhancing use intensity, i.e. student housing; or, improving amenities, i.e. Central A/C, Electric car charges.

Primary Features

County: Los Angeles
IDX City Name: Glendale
IDX County Name: Los Angeles
photo Count: 35
Property Type: Rental Income
Year Built: 1949
Zoning: GLR4*

Financial Details

Actual Annual Gross Rent: 560064
Actual Gross Annual Income: 560064
Cap Rate: 3.79
Expense Operating: 202192
Expense Operating Percent: 36
Gross Operating Income: 560064
Gross Rent Multiplier: 16.07
Laundry Equipment: Own
Listing Terms: Cash, Cash To New Loan, Conventional
Monthly Gross Income: 46472
Net Operating Income: 341070
Number Leased: 29
Original List Price: 9000000
Owner Pays: Gardener, Water
Price Per Acre: 10702818.41
Special Conditions: Standard Sale
Tenant Pays: Cable TV, Electricity, Gas
Unit Projected Total Monthly Rent01: 1700
Unit Projected Total Monthly Rent02: 2000
Unit Projected Total Monthly Rent03: 2100
Unit Total Monthly Rent01: 1519
Unit Total Monthly Rent02: 1718
Unit Total Monthly Rent03: 1950

Additional

Adjusted Gross Income: 543262
BathsTotal: 30
BedroomsTotal: 40
Country: UNITED STATES OF AMERICA
Laundry Locations: Community, Laundry Area
Legal Disclosures: Owner Has R.E. License
List Agent License Number: 01893333
ListingStatus: Active
Number Of Buildings: 2
Number Water Meters: 1
Price Per Unit: 310344
Property Condition: Updated/Remodeled
Square Footage Source: Public Records
Units Total In Complex: 29
Water: Public

Location Information

Area: Glendale-Rossmoyne & Verdugo Woodlands (627)
Cross Streets: SHERER LN AND CRESMONT CT
View: no

Interior Features

Common Walls: Attached
Cooking Appliances: Free Standing Gas
Cooling Type: Air Conditioning, Ceiling Fan(s), Wall Unit(s)
Elevators: no
Fireplace: no
Floor Material: Carpet, Ceramic Tile, Laminated, Wood
Heating Fuel: Natural Gas
Heating Type: Wall Gas, Wall Heater
Levels: Two Level
Unit Number Of Bath01: 1
Unit Number Of Bath02: 1
Unit Number Of Bath03: 1.5
Unit Number Of Bed01: 1
Unit Number Of Bed02: 2
Unit Number Of Bed03: 2
Water Heaters YN: yes

External Features

Construction: Frame and Stucco
Lot Size Source: Public Records
Lot Size SqFt: 36628
Number Electric Meters: 29
Number Gas Meters: 29
Other Structural Features: Balcony, Partial Copper Plumbing
Parking Features: Covered Parking
Parking Spaces Total: 29
Parking Type: Assigned, Carport Detached, Parking Space
Pool: no
Sewer: In, Connected & Paid
Spa: no

Zoning Info


Listing courtesy of George Yessaie (01893333) from JohnHart Real Estate.
Based on information from CARETS as of Saturday, October 19th, 2019 03:26:31 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Contact

Nancy Sanborn

131 S. Rodeo Dr. Suite 100
Beverly Hills, CA 90212
Phone: 310-777-2858

Data services provided by IDX Broker
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